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Strategies & Market Trends : Bear!
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To: Harshu Vyas who wrote (193)11/28/2023 4:01:25 PM
From: petal   of 266
 
If you are buying & holding for the long term, you really cannot afford to disregard mgmt. Over time, that's what makes or brakes a business. (Unless they're some kind of monopoly, in which case absence of outright stupidity might be enough. (Buffett's idea about "only investing in businesses that are so wonderful that an idiot can run them, because sooner or later, one will"...))

Mgmt should be either obviously brilliant and honorable as individuals (and have an obviously good grasp of capital allocation (important!)), or the reported earnings should be brilliant enough to prove mgmt's brilliancy that way – but preferable both!

“As times goes on, I get more and more convinced that the right method of investment is to put large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes.“

– J.M. Keynes
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